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No Christmas relief for LeedsRichard Sutcliffe
GERALD KRASNER has revealed any possible rescue deal for Leeds United will not be completed until the New Year at the earliest as the Elland Road takeover saga rumbles on.
It means United are facing a second successive festive season in which their future is shrouded in doubt with the club even requesting time to pay a substantial tax bill that is due today.
The current board restructured the debt to the Inland Revenue on taking charge in March and have made regular payments since then. But the latest instalment, believed to be £1.2m, appears to be beyond United's reach so Krasner is seeking a deferral and a further rescheduling.
It is expected the Inland Revenue will agree to Krasner's request, especially as Leeds could soon be in the hands of new owners. United's solicitors met Sebastien Sainsbury's legal team to discuss his proposed £25m takeover on Monday afternoon after proof of funds were finally accepted.
Chairman Krasner told the Yorkshire Post last night: "The talks with Mr Sainsbury's legal team were reasonably productive. Various matters were discussed and we are now waiting for them to come back to us with certain things on paper.
"We cannot do anything until then and I can't see anything happening before the New Year due to the Christmas holidays."
On the attempt to delay having to make today's Inland Revenue repayment, Krasner said: "I can't discuss what I will say to the Inland Revenue until I have met them. As a club we do not comment on speculation, as and when something is confirmed we will go public."
The £25m needed to conclude the Sainsbury takeover deal is understood to be sitting in a London bank and can be moved at a moment's notice.
The 41-year-old great grandson of the supermarket chain founder declined to comment last night but is believed to be keen to push a deal through before Christmas, something that now appears unlikely.
It is almost two months since the Yorkshire Post revealed Sainsbury's interest in taking over at Elland Road. His first attempt, backed by American firm Nova Financial Partners, floundered but he revived his interest two and a half weeks ago after securing fresh finance from Europe.
Norman Stubbs remains in talks with the club over his own proposed investment, the local businessman's consortium originally looking to plough £9m into the club.
It is believed more money is needed, however, to secure United's long-term future and Stubbs is working on finding additional funding.
Despite Sainsbury's willingness to conclude a deal as soon as possible.
It is almost a year to the day since then chief executive Trevor Birch set a January deadline for new owners to take charge at a club whose debts topped £100m.
A deal with the club's American bondholders, who had lent the club £60m, bought Birch crucial time as he negotiated with several interested parties, including Sheikh Abdul bin Mubarak al-Khalifa.
Most of these discussions came to nothing, however, with only the current board able to provide the necessary funding and reach agreement with Birch.
In their nine-month reign, Krasner and his board have slashed United's debts to just under £25m but have had to agree sale-leaseback deals for both Elland Road and the club's Thorp Arch training ground.
On the subject of the Inland Revenue payment scheduled for today, a club spokesman told the Yorkshire Post three weeks ago: "There is a large payment due to a creditor next month but it is not a life or death situation for the club."
However, the request for time to pay the Inland Revenue suggests time and money is running out. Supporters must hope either Sainsbury or Stubbs can successfully conclude a deal in the near future and finally banish the uncertainty that has surrounded the club for far too long.
Meranwhile, Wigan Athletic manager Paul Jewell said yesterday he is refusing to be drawn into an auction for Leeds United goalkeeper Scott Carson.
The 19-year-old has been linked with a move to the Latics and Premiership giants Liverpool after it was revealed he has just six months remaining on his Elland Road contract.
Leeds met Carson's agent earlier this week and are faxing the offer of a new deal either today or tomorrow.
Despite the speculation of an offer having been lodged, Wigan manager Jewell insists: "We have not made any bid for Scott Carson.
"We watch a lot of players and Scott is a very good goalkeeper. But in this case I feel Leeds might be using us to try and set up an auction for the player. We will not be party to that."
United spokesman Bryan Morris countered: "There is no auction and I can assure supporters we want to keep Scott. The link with Wigan did not come from this football club and I can confirm we have not received one formal bid for Scott."
The 19-year-old has not made a first team appearance this season due to Neil Sullivan's fine form but is the first choice for England Under-21s.
Carson's current deal may run out next summer but even if he does not agree a new deal the goalkeeper will not be able to leave on a Bosman free transfer. A fee must be paid for any homegrown player under the age of 24 providing they join another English club, regardless of whether they are out of contract.
No Christmas relief for LeedsRichard Sutcliffe
GERALD KRASNER has revealed any possible rescue deal for Leeds United will not be completed until the New Year at the earliest as the Elland Road takeover saga rumbles on.
It means United are facing a second successive festive season in which their future is shrouded in doubt with the club even requesting time to pay a substantial tax bill that is due today.
The current board restructured the debt to the Inland Revenue on taking charge in March and have made regular payments since then. But the latest instalment, believed to be £1.2m, appears to be beyond United's reach so Krasner is seeking a deferral and a further rescheduling.
It is expected the Inland Revenue will agree to Krasner's request, especially as Leeds could soon be in the hands of new owners. United's solicitors met Sebastien Sainsbury's legal team to discuss his proposed £25m takeover on Monday afternoon after proof of funds were finally accepted.
Chairman Krasner told the Yorkshire Post last night: "The talks with Mr Sainsbury's legal team were reasonably productive. Various matters were discussed and we are now waiting for them to come back to us with certain things on paper.
"We cannot do anything until then and I can't see anything happening before the New Year due to the Christmas holidays."
On the attempt to delay having to make today's Inland Revenue repayment, Krasner said: "I can't discuss what I will say to the Inland Revenue until I have met them. As a club we do not comment on speculation, as and when something is confirmed we will go public."
The £25m needed to conclude the Sainsbury takeover deal is understood to be sitting in a London bank and can be moved at a moment's notice.
The 41-year-old great grandson of the supermarket chain founder declined to comment last night but is believed to be keen to push a deal through before Christmas, something that now appears unlikely.
It is almost two months since the Yorkshire Post revealed Sainsbury's interest in taking over at Elland Road. His first attempt, backed by American firm Nova Financial Partners, floundered but he revived his interest two and a half weeks ago after securing fresh finance from Europe.
Norman Stubbs remains in talks with the club over his own proposed investment, the local businessman's consortium originally looking to plough £9m into the club.
It is believed more money is needed, however, to secure United's long-term future and Stubbs is working on finding additional funding.
Despite Sainsbury's willingness to conclude a deal as soon as possible.
It is almost a year to the day since then chief executive Trevor Birch set a January deadline for new owners to take charge at a club whose debts topped £100m.
A deal with the club's American bondholders, who had lent the club £60m, bought Birch crucial time as he negotiated with several interested parties, including Sheikh Abdul bin Mubarak al-Khalifa.
Most of these discussions came to nothing, however, with only the current board able to provide the necessary funding and reach agreement with Birch.
In their nine-month reign, Krasner and his board have slashed United's debts to just under £25m but have had to agree sale-leaseback deals for both Elland Road and the club's Thorp Arch training ground.
On the subject of the Inland Revenue payment scheduled for today, a club spokesman told the Yorkshire Post three weeks ago: "There is a large payment due to a creditor next month but it is not a life or death situation for the club."
However, the request for time to pay the Inland Revenue suggests time and money is running out. Supporters must hope either Sainsbury or Stubbs can successfully conclude a deal in the near future and finally banish the uncertainty that has surrounded the club for far too long.
Meranwhile, Wigan Athletic manager Paul Jewell said yesterday he is refusing to be drawn into an auction for Leeds United goalkeeper Scott Carson.
The 19-year-old has been linked with a move to the Latics and Premiership giants Liverpool after it was revealed he has just six months remaining on his Elland Road contract.
Leeds met Carson's agent earlier this week and are faxing the offer of a new deal either today or tomorrow.
Despite the speculation of an offer having been lodged, Wigan manager Jewell insists: "We have not made any bid for Scott Carson.
"We watch a lot of players and Scott is a very good goalkeeper. But in this case I feel Leeds might be using us to try and set up an auction for the player. We will not be party to that."
United spokesman Bryan Morris countered: "There is no auction and I can assure supporters we want to keep Scott. The link with Wigan did not come from this football club and I can confirm we have not received one formal bid for Scott."
The 19-year-old has not made a first team appearance this season due to Neil Sullivan's fine form but is the first choice for England Under-21s.
Carson's current deal may run out next summer but even if he does not agree a new deal the goalkeeper will not be able to leave on a Bosman free transfer. A fee must be paid for any homegrown player under the age of 24 providing they join another English club, regardless of whether they are out of contract.
